SAN FRANCISCO: Electric carmaker Lucid Group Inc on Thursday raised prices for most models from June as it deals with rising raw materials costs, but said it would honour current reservations in a move to avoid the blowback a rival faced.

From June 1, new reservations in the United States will be priced at US$154,000 (RM671,000) for Air Grand Touring, US$107,400 (RM468,000) for Air Touring and US$87,400 (RM381,000) for Air Pure models, the company said.

"Similar to many companies in our industry, we continue to face global supply chain and logistics challenges, including Covid-related factory shutdowns in China," Chief Financial Officer Sherry House said.

Despite the challenges, the company reiterated its annual production forecast of 12,000 to 14,000 vehicles.

Amazon-backed Rivian Automotive Inc had to earlier this year roll back price hikes on electric vehicles booked before March 1 after facing backlash from customers following a 20% increase in prices.

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